Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
The Hi-Tech Gears Limited is an India-based company, which is engaged in the manufacturing, selling, exporting, and dealing auto components. The Company is primarily engaged in the business of gears and transmission components. The Company’s geographical segment includes America, India, and Other. The Company’s products include transmission and engine components, driveline components, engine design services and advanced technology-enabled products and solutions in the field of robotics, artificial intelligence, vision and embedded systems. It offers a variety of components, such as forged lug gears, drive/driven spur, and helical gears, straight and involute special ratchets, kick spindle, and crank. The Company’s applications include marine, construction, defense, emergency vehicle, mining, agriculture, power generation, and many other stationery equipment. Its subsidiaries include 2545887 Ontario Inc, Neo-Tech Auto System Inc, and Neo-Tech Smart Solutions Inc.
HTGR - Hi-Tech Gears Ltd
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